The primary reason stating for some people, why do NFTs and their prices don’t make any sense:
1. Following The Rat Race
You’d notice there are many who actually don’t know the use of NFTs they’ve bought but still they buy.
Because everyone else is buying it, so I want to buy it too.
Some collectors are literally investing huge amounts just to acquire what’s new in the marketplace.
Not to get us wrong, these collections could give them 10x times more than they’ve imagined or even more.
What if they don’t get you anything in writing? Or when you resell them, you get half the price of your purchasing amount?
No have no one to blame but yourself.
This article is not published to discourage you. However, some sensible people really go crazy when they think of NFTs and their prices.
2. Anything Could Be Sold
When you take the example of Beeple, the great artist. His art form being sold for millions make sense.
Firstly, famous artists’ art always has expensive tags. Secondly, he delivers a story behind the artwork, and not just JPEG or PNG.
When a couple of people were asked what do you think of a ‘Monkey’ image being sold to millions?
They did laugh. Selling an image at that high price is just unacceptable. Whereas, 100s and 1000s of artists struggle to sell even a single piece of art that really brings value.
This is all NFTs are about!
Digital identity for the artwork created is being given significance, whereas in earlier days it wasn’t the case.
In order to recognize a piece of art in the exhibition or store is easy, as you know who’s the artist behind it. In the case of the digital world, no authorities were mentioned. Only a few sites do care about the artists, so they sell the same copy at a high price to several customers. And some did it for free asking for credit in return.
NFT has changed the world. Now you could sell anything in any artform and format to any person in the world. The only condition is your work has to be original and minted through the process of blockchain.
3. Apes, Animals, and Random Creations Are Given More Importance Than Humans and Sensible Art
For the communities heading towards the meta world, this is not the case. For surely, those who are still trying to figure out what NFTs are, and what’s their use in the metaverse, it’s quite difficult.
If you ask your 50-year-old neighbor given the choice of either buying an Ape’s Picture from Opensea at $5000; Or buying a set of books with tons of valuable information about Apes at the same price.
He would definitely go for books worth the same price that’d be consumed for knowledge or resold to needy ones. What would one do with Ape’s JPEG image, when it has no utility if life at all.
Now, this is a game-changer.
Because the NFT creator and original owners know that these are less of use. So they’re coming up with ideas to bring these dead stocks to use.
There are several ways they could make NFTs usable in the metaverse, and some of them are:
- Allowing buyers to access their upcoming drops
- Launching and selling land in the metaverse (open-only for loyal NFT buyers)
- Get a trip and meet up with a famous personality.
- Share space in the metaverse
This is how buyers would be able to bring their NFTs into use.
What’s More Sensible Buying Decision About NFTs And Their Prices?
We would suggest you buy 3D NFTs as they’ve high potentials to be used in Metaverse and this world as well. Specifically, the utility of rigged 3D fascinating NFTs is comparatively high. As they would act as living NFTs in the metaverse. Adding animation to those would bring more value out to them.
You could do any possible things to execute your 3D NFTs. And their expected prices are going to be impressive. Just to let you know, RulerMaker is soon to launch Rigged 3D NFTs and disrupt the NFT marketplace.
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